Stocks which experience strong rallies are also prove to be correct sharply due to the tendency of investors to cash in on their profits and that is what has happened with the Lightwave Logic Inc (OTCMKTS:LWLG) stock over the course of the past month.
The trend continued in the Lightwave stock on Tuesday as it declined by another 9% on the back of profit taking and took the decline for the past month to as much as 25%. There was no news about the technology platform firm yesterday but earlier on this week on Monday Lightwave announced that it had been granted a United States patent for a new invention.
The company announced that its latest invention is going to help with the enhanced optical routing architecture that is meant for polymer based photonics of the integrated nature. Those integrated photonics in turn can be scaled in conjunction with partner foundries. The receipt of a new patent is almost always a major development for any technology related company and it is now different when it comes to Lightwave Logic. However, after the strong rally in the stock yesterday, it is going to be interesting to see if the stock can manage to hold on to its momentum over the coming days.